Nexstar Media Group (NASDAQ:NXST) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research note released on Wednesday,Benzinga reports.

Several other equities research analysts have also recently weighed in on NXST. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $154.70 on Wednesday. Nexstar Media Group has a 1-year low of $147.25 and a 1-year high of $191.86. The firm’s 50-day moving average price is $162.07 and its two-hundred day moving average price is $167.09. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 0.25 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities analysts predict that Nexstar Media Group will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.37%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the sale, the director now owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,448 shares of company stock worth $23,828,076. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock worth $4,339,000 after purchasing an additional 10,603 shares during the period. SGL Investment Advisors Inc. bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after buying an additional 7,117 shares during the period. Quest Partners LLC lifted its stake in Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after buying an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Nexstar Media Group by 680.9% in the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock valued at $2,847,000 after buying an additional 15,014 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.